Move From Data Chaos To Data Freedom With Master Data Management

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Our world is dominated by data-driven machines—our smartphones, TVs, laptops, cars—there are even “smart” refrigerators that collect data. Now, more than ever, companies across industries are producing and collecting massive amounts of data. In fact, your company alone could possess between 1 million and 12 million gigabytes of information. 

While data is the most valuable asset for many businesses who use it to track customer behaviors or fluctuations in their tech’s performance—most companies are working with unstructured data. According to CIO, 80–90% of the data generated today is unstructured, meaning it comes in different forms, sizes, and even shapes. The lack of tools and technologies able to extract business value from this disordered digital resource has prevented insights into what companies should and could be doing to improve business decisions. The daunting volumes of unstructured data have actually discouraged some companies from even attempting to mine this chaotic landscape for nuggets of useful information, which of course, makes data management even more chaotic.

You likely deal with a lot of data, from customer information, marketing expenses, product lists, sales statistics, employee records, tax statements, revenue reports—and the list could go on and on. It is critical, of course, for your information to be organized and accurate to prevent complications. But with unstructured data, complications are inherent. And the more your company grows, the higher the odds that data-related issues will compound. 

So, what should companies do about the messy heap of data rolling around in their tech stack? Structure it with a Master Data Management (MDM) solution. 

The Movement to Data Intelligence

Gartner describes MDM as a “technology-enabled business discipline in which business and IT organizations work together to ensure the uniformity, accuracy, stewardship, semantic consistency, and accountability of the enterprise’s official, shared master data assets.” So, how can companies today achieve MDM? 

In many of today’s organizations, data is stored across a range of sources and silos with inadequate data access, data governance, and data quality provisions. Ironically, the issue of data being spread across various locations is often referred to in metaphorical language that brings to mind a peaceful aquatic experience—data streams, data islands, and data lakes. Truthfully, these data streams, lakes, and islands behave more like data hurricanes or data droughts when the data itself is unstructured.

Master data management systems can restore peace and ensure that obscure data, siloed on its own data island, is incorporated into the bigger picture. Semarchy, an innovative MDM software vendor, is embracing the chaos. Their solution is designed to embrace change, allowing for rapid expansion or evolution based on business requirements. Their agile xDM platform enables organizations of any size to quickly integrate critical information scattered across applications within a single platform, reducing the odds of manual errors and data inconsistency.

Only those with the correct information can successfully navigate the market, make future predictions, and adjust their business to fit market trends. Data trapped in disparate, unconnected data silos means incomplete data sets, reducing the collected data quality and impact. If companies want to create and maximize their data’s value to innovate faster and achieve better outcomes, that information must be freed. Investing in a Master Data Management solution ensures that business decisions stand on the foundation of an accurate and complete understanding of your business, customers, products, and more. 

The goal of data management today is to gain control of business data to address critical concerns like continuity, cost, and compliance, without compromise. However, data chaos is an obstacle to this goal. Business leaders who tap into the many benefits of investing in a valuable master data management solution will remain ahead of their competitors in the long run.

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This post contains sponsored advertising content. This content is for informational purposes only and not intended to be investing advice.